Patriot Battery Metals Drills 0.94% Li2O over 155.1 m, including 1.38% Li2O over 38.0 m, in Second Drill Hole at the Corvette-FCI Property, James Bay, QC
Patriot Battery Metals Inc.
Suite 700 - 838 W. Hastings Street, Vancouver, BC, Canada, V6C 0A6
www.patriotbatterymetals.com CSE: PMET / OTC: PMETF / FSE: R9GA
Patriot Battery Metals Drills 0.94% Li2O over 155.1 m, including 1.38% Li2O over 38.0 m, in
Second Drill Hole at the Corvette-FCI Property, James Bay, QC
Vancouver, BC, Canada
January 27, 2022 – Patriot Battery Metals Inc. (the “Company” or “Patriot”) (CSE: PMET) (OTCQB: PMETF) (FSE:
R9GA) is pleased to announce the assay results from the second hole of its inaugural drill program at the
Company’s Corv ette-FCI Property (the “Property” or "Project" ), located in the James Bay Region of Quebec. The
second drill hole (CF21-002) targeted the eastern portion of the CV5 Spodumene Pegmatite outcrop, which forms
part of the more than 25 km long CV Lithium Trend that is host to multiple spodumene pegmatite occurrences .
Figures 1, 2, and 3 shows the outcrop proximity and dimensions in the core area of the trend where initial drilling
has been completed. Drill core sample assay highlights are outlined in Table 1 and include:
• 0.94% Li 2O and 117 ppm Ta 2O5 over 155.1 m (from 77.9 m to 233.0 m), which includes the entire
intersection of pegmatite, including higher grade intervals of:
o 1.38% Li2O and 160 ppm Ta2O5 over 38.0 m (from 124 m to 162 m), including,
3.91% Li2O and 308 ppm Ta2O5 over 5.0 m (from 157 m to 162 m)
o 1.14% Li2O and 104 ppm Ta2O5 over 44.0 m (from 189.0 m to 233.0 m)
Blair Way, Company President and Director, comments: “ This second hole of our program is in line with our
expectations and demonstrates high grades over wide widths, in two drill holes spaced over 100 m apart along-
strike at the CV5 Pegmatite. The CV5 Pegmatite outcrop, which is over 2 20 m long and 35 m wide at surface, is
demonstrating some excellent grades and potential scale. I t is very satisfying to see our first two holes demonstrate
just how significant this discovery at CV5 -6 is , and moreover, how valuable the Corvette-FCI project is. We look
forward to the assay results of the remaining two 2021 drill hole s completed at CV5 and CV6. Further, with such
tremendous results obtained from just a small portion of the 25 km trend, which is host to numerous lithium
pegmatites on the Property , and coupled with a $ 13M war chest, we are very excited to continue with additional
surface and drill exploration of the P roject to start in the coming week s, which will provide further insight into the
true scale of the Corvette-FCI Lithium Pegmatites”
The second drill hole of the program (CF21-002) was collared approximately 107 m east of the first hole
(CF21-001), and approximately 35 m back from the CV5 pegmatite outcrop (see Figures 1, 2, and 3), and returned a
155.1 m interval of near continuous pegmatite, assaying 0.94% Li 2O and 1 17 ppm Ta 2O5, including 1.38% Li 2O
and 160 ppm Ta2O5 over 38.0 m, and 1.14% Li2O and 104 ppm Ta2O5 over 44.0 m. This 155.1 m interval returned
twenty-five (25) individual 1-metre samples grading over 2.0% Li2O, including a peak assay of 4.67% Li2O and 186
ppm Ta2O5. Additional assay highlights are presented below in Table 1, as well as Figure 1 .
Table 1: Core sample assay highlights from drill hole CF21-001 and 002 at the CV5 Pegmatite
Preliminary geological modelling indicates that the pegmatite has a moderate to steep dip to the northwest, which
is unconformable with the regional geological dip direction, although shares a similar east -northeast strike.
Additional drilling, planned to commence this quarter ( see news release dated January 20, 2022) , is required to
establish the true orientation of the pegmatite.
As in hole CF21-001, the lithium mineralization is also accompanied by moderate to strong tantalum mineralization
and includes wide intervals over 100 ppm Ta 2O5 (Table 1). Moreover, the gra des of lithium and tantalum
encountered in drill hole CF21 -002 (0.94% Li 2O and 117 ppm Ta 2O5 over 155.1 m) are very consistent with that
returned from drill hole CF21-001 ( 0.93% Li 2O and 114 ppm Ta 2O5 over 146.8 m – see news release dated
November 29th, 2021), located approximately 107 m along strike at the CV5 Pegmatite. Coupled with the surface
sampling data, the analytical results indicate a pegmatite body with significant lateral and depth potential and
collectively emphasize the size of the mineralizing system present.
The 2021 drill program, completed in September-October, included fifteen (15) holes totalling 2,048 m spread over
two prospective trends – the CV Lithium Trend (872 m over 5 holes) and the Maven Copper -Gold-Silver Trend
(1,177 m over 10 holes). Assays for the remaining drill holes have not yet been received, including for lithium
focused drill holes CF21-003 (CV5 Pegmatite) and CF21-004 (CV6 Pegmatite).
The Company is currently planning a 15,000 to 20,000 m two -drill rig campaign, targeted to begin in late February,
to aggressively follow-up on the success of the 2021 drill program (see news release dated January 20, 2022) . The
primary objective will be to test the mineralized pegmatite along strike of drill holes CF21-001 and 002, potentially
Hole ID From
(m)
To
(m)
Interval
(m)
Li2O
(%)
Ta2O5
(ppm)
Total Depth
(m)
Azimuth
(°)
Dip
(°)
CF21-001 26.0 172.8 146.8 0.93 114 229.1 340 -45
including 26.0 99.0 73.0 1.09 108
or 79.0 99.0 20.0 1.83 108
or 86.0 93.0 7.0 2.29 130
including 118.2 172.8 54.6 1.04 145
or 142.1 150.0 7.9 1.96 157
or 165.0 171.6 6.6 2.22 150
202.0 213.4 11.5 1.39 107
CF21-002 77.9 233.0 155.1 0.94 117 274.2 340 -45
including 78.9 87.0 8.1 1.48 119
including 124.0 162.0 38.0 1.38 160
or 157.0 162.0 5.0 3.91 308
including 189.0 233.0 44.0 1.14 104
CF21-003 106.1 160 -45
CV6
Pegmatite CF21-004 148.2 340 -45
(2) All intervals are core length. True width of intervals is not well constrained. Preliminary geological modelling
indicates the pegmatite has a near-vertical to steep-dip to the northwest near CF21-004 transitioning to a moderate to
steep-dip to the northwest near CF21-001/003 and 002. A cross-section of the geological model at CF21-001 and 003
indicates a true width of the pegmatite body to be approximatly 60 m at this location.
ASSAYS PENDING
ASSAYS PENDING
(1) All drill holes are NQ core size.
CV5
Pegmatite
connecting the CV5-6 pegmatites with the CV1-2 pegmatites, as well as testing the mineralization at depth (see
Figures 1 and 3).
The CV Lithium Trend is an emerging spodumene pegmatite district discovered by the Company in 2017 and spans
the FCI West, FCI East, and Corvette cla im blocks. The core area includes an approximate 2 km long corridor , which
is part of the more than 25 -km long and Property -wide CV Lithium Trend. It consists of numerous spodumene
pegmatite occurrences, which include the CV1, CV2, CV3, CV5, CV6, and CV7 pegmatites , highlighted by the CV5
Pegmatite – a large (~220 m long and 20- 40 m wide), well-mineralized outcrop with a drill intercept of 146.8 m at
0.93% Li 2O and 114 ppm Ta 2O5 returned from the first drill hole to test the target. The high number of well -
mineralized pegmatites in th is core area of the trend indicates a strong potential for a series of relatively closely
spaced/stacked, sub-parallel, and sizable spodumene -bearing pegmatite bodies, with significant lateral and depth
extent, to be present.
Quality Assurance / Quality Control (QAQC)
A Quality Assurance / Quality Control protocol following industry best practices was incorporated into the program
and included systematic insertion of quartz blanks and certified reference materials into sample batches, as well as
collection of quarter -core duplicates, at a rate of approximately 5%. The Company also intends to submit
approximately 4-5% of the core samples for check analysis at a secondary lab. A total of 1,766 samples, including
QAQC, have been submitted for geochemical analysis to the primary lab.
All pegmatite encountered in d rill holes CF21-001, 002, 003, and 004 was sampled, including ‘book -end’ sampling
of adjacent rock, for a total of 6 13 samples including QAQC, and were shipped to Activation Laboratories in
Ancaster, ON for analysis. C ore samples collected were submitted for multi -element analysis (including lithium) by
four-acid digestion with ICP -OES finish (package 1F2) and tantalum by INAA (code 5B), with any samples returning
>8,000 ppm lithium by 1F2 then reanalysed for lithium by code 8-4 Acid ICP-OES Assay. Industry standard drill core
sample preparation was completed and was comprised of crushing to 80% passing 10 mesh, followed by a 250 g
riffle split and pulverizing to 95% passing 105 µ (package RX1).
The Company notes that it carried out its field programs while adhering to all federal, provincial, and regional
restrictions in place due to the COVID -19 pandemic, and successfully navigated the process to enter the James Bay
Region to complete its planned field activities. Mineral exploration has been recognized as an essential service in
Canada and the Province of Quebec. The Company is also pleased to report that no cases of COVID -19 were
documented with respect to the 2021 exploration program.
Figure 2: Aerial view of the CV5-6 pegmatites, looking north-west
Figure 3: Aerial view of the CV1-2 and CV5-6 pegmatites, looking south-west
Qualified Person
Darren L. Smith, M.Sc., P.Geo., Vice President of Exploration of the Company, a registered permit holder with the
Ordre des Géologues du Québec and Qualified Person as defined by National Instrument 43 -101, has reviewed the
technical information in this news release.
About Patriot Battery Metals Inc.
Patriot Battery Metals Inc. is a mineral exploration company focused on the acquisition and development of
mineral projects containing battery, base, and precious metals.
The Company’s flagship asset is the Corvette -FCI Property which includes the wholly owned Corvette claim block,
and the FCI East and West claim blocks held under Option from O3 Mining Inc., located in the James Bay Region of
Québec. The claim blocks are contiguous, and host significant l ithium potential highlighted by the assay results of
the first drill hole (CF21- 001) completed by the Company on the Property, which returned a 146.8 m interval of
near continuous pegmatite, assaying 0.93% Li2O and 114 ppm Ta2O5, including 1.09% Li2O and 108 ppm Ta2O5
over 73.0 m, and 1.04% Li2O and 145 ppm Ta2O5 over 54.6 m. Additionally, the Property hosts the Golden Gap
Trend with grab samples of 3.1 to 108.9 g/t Au from outcrop and 10.5 g/t Au over 7 m in drill hole, and the Maven
Trend with 8.15% Cu, 1.33 g/t Au, and 171 g/t Ag in outcrop.
The Company also holds the Freeman Creek Property in Idaho, which hosts two prospective gold prospects - the
Gold Dyke Prospect with a 2020 drill hole intersection of 4.11 g/t Au and 33.0 g/t Ag over 12 m, and the Car men
Creek Prospect with surface sample results including 25.5 g/t Au, 159 g/t Ag, and 9.75% Cu.
The Company’s other assets include the Pontax Lithium -Gold Property, QC; the Golden Silica Property, BC; and the
Hidden Lake Lithium Property, NWT, where the Company maintains a 40% interest, as well as several other assets
in Canada.
For further information, please contact us at [email protected] Tel: +1 ( 778) 945-2950 , or visit
www.patriotbatterymetals.com.
On Behalf of the Board of Directors,
“BLAIR WAY” “ADRIAN LAMOUREUX”
Blair Way, President & Director Adrian Lamoureux, CEO & Director
Disclaimer for Forward-Looking Information
Statements included in this announcement, including statements concerning our plans, intentions, and expectations, which are not historical in
nature are intended to be, and are hereby identified as, “forward- looking statements”. Forward-looking statements may be identified by words
including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-
looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain
risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
The Canadian Securities Exchange has not approved nor disapproved the contents of this news release